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Marui Group fiscal Q4 profit falls YOY

Marui Group Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥15.04 per share, a decrease of 13.8% from ¥17.45 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.04 billion, a decline of 15.5% from ¥4.78 billion in the prior-year period.

The normalized profit margin declined to 3.9% from 4.3% in the year-earlier period.

Total revenue decreased 6.5% on an annual basis to ¥103.51 billion from ¥110.74 billion, and total operating expenses declined 5.9% from the prior-year period to ¥97.04 billion from ¥103.11 billion.

Reported net income rose 81.4% year over year to ¥6.91 billion, or ¥25.74 per share, from ¥3.81 billion, or ¥13.91 per share.

For the year, the company's normalized net income totaled ¥64.13 per share, an increase from ¥63.16 per share in the prior year.

Normalized net income was ¥17.48 billion, an increase from ¥17.29 billion in the prior year.

Full-year total revenue declined from the prior-year period to ¥404.95 billion from ¥416.46 billion, and total operating expenses fell on an annual basis to ¥376.90 billion from ¥389.31 billion.

The company said reported net income rose year over year to ¥16.04 billion, or ¥58.86 per share, in the full year, from ¥15.41 billion, or ¥56.29 per share.

As of June 25, US$1 was equivalent to ¥123.71.